As far as I'm aware, the only benefit of this type of finance is that the rate varies as base rate varies, so in theory if the B of E reduces interest rates again, your monthly repayment would fall. As opposed to a fixed rate deal, where the monthly repayment is fixed.
But in reality, B of E are highly unlikely to reduce rates further, so I don't really see any benefit to this scheme over a standard fixed rate repayment one.
Nooo. 'fraid not. In my experience of making man maths magical, there are generally better deals to be had with independent finance companies than anything a dealer can offer, unless you're buying new and they're mad keen to shift some cars at the end of a quarter. I've used a guy based in Surrey who's really good, if you want an intro. Happily he always seems willing to help me work out whether my excellent ideas are excellent or a pile of deluded bollox. He knows that one day he'll catch me at a moment of weakness. Again. Drop me a note if you want an intro.